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eBay Inc. (EBAY - Free Report) just released its third quarter fiscal 2016 financial results, posting earnings of 45 cents per diluted share and revenue of $2.22 billion. EBAY is a Zacks Rank #3 (Hold), and is down 6.5% to $30.40 per share in after-hours trading shortly after its earnings report was released.

Beat earnings estimates. The company posted earnings of 45 cents per diluted share, surpassing average analyst expectations of 44 cents per share.

During the quarter, the company generated $802 million of operating cash flow and $617 million of free cash flow from continuing operations while also repurchasing $500 million of its common stock.

For the upcoming holiday quarter, eBay forecast revenue of $2.36 billion to $2.41 billion and adjusted profit from continuing operations of 52 to 54 cents per share for the current quarter. Analysts on average were expecting revenue of $2.40 billion and earnings of 54 cents per share.

“In Q3 we delivered good top- and bottom-line financial results, led by consistent performance across our business," said Devin Wenig, President and CEO of eBay Inc. "We continued to transform the shopping experience on eBay, delivered more personalization capabilities and began to activate our updated brand messaging."

Here’s a graph that looks at eBay’s price and consensus over the past year:

EBAY INC Price and Consensus

eBay is one of the world's largest online trading communities. The company creates a powerful marketplace for the sale of goods and services by a passionate community of individuals and small businesses. eBay enables trade on a local, national, and international basis with local sites in numerous markets in the United States, and country-specific sites in the United Kingdom, Canada, Germany, Austria, France, Italy, Japan, Korea, and Australia.

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At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +25% per year. These returns cover a period from 1988-2017. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zack Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.

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